Abbott Laboratories $ABT Shares Sold by Argonautica Private Wealth Management Inc.

Key Points

• Argonautica Private Wealth Management Inc. significantly reduced its holdings in Abbott Laboratories by 93.7% during the 2nd quarter, ending up with only 2,668 shares after selling 39,470 shares.
• Several institutional investors, including IMG Wealth Management Inc. and Hughes Financial Services LLC, have recently increased their stakes in Abbott Laboratories, indicating strong interest from institutional investors overall.
• The company's stock has a consensus rating of Moderate Buy with a target price averaging $147.00, following recent upgrades from analysts from major financial institutions.

Argonautica Private Wealth Management Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 93.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,668 shares of the healthcare product maker's stock after selling 39,470 shares during the quarter. Argonautica Private Wealth Management Inc.'s holdings in Abbott Laboratories were worth $363,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. boosted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker's stock worth $26,000 after acquiring an additional 167 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an "outperform" rating in a research report on Thursday, October 16th. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Finally, Mizuho upped their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 1.4%

ABT opened at $127.68 on Wednesday. The business has a 50 day moving average price of $132.28 and a two-hundred day moving average price of $131.54. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a market cap of $222.21 billion, a PE ratio of 16.00, a P/E/G ratio of 2.46 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 29.57%.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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